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Attack on America |
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The editors of the OTC Journal
wish to express our deepest sympathy to the families and friends of those
who lost loved ones in this week's horrific disaster. Here is a quote which
best expresses our feelings:
Any man's death diminishes
me, because I am involved in Mankind; And therefore never send to know
for whom the bell tolls; it tolls for thee.
John Donne,
Devotions 17
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New
Flash Clip In OTC Journal Header |
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In light of this week's events we
decided to introduce our members to the new flash clip which appears on
the right side of the header. There is an associated audio clip, so turn
on your speakers if you have them. We hope you enjoy it and understand
the point we are trying to make. If you find it annoying simply turn off
your sound. It will be there from here forward, but the content may change
from time to time depending on the subject of the edition. If you experience
any technical difficulties you might try viewing the web page version of
our newsletter which can be accessed by clicking on the link at the top.
Your comments are welcome- email info@otcjournal.com.
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Market
Comment |
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Markets are scheduled to reopen on
Monday morning pending weekend testing on the systems. Over the past three
days overseas markets have dropped as much as 5% to 10% in anticipation
of a global recession exacerbated by the terrorist attack.
US markets are expected to open lower.
Panic selling is anticipated and market makers will adjust prices to take
advantage of this climate of fear. If you feel compelled to flee to the
psychological safety of cash we recommend you wait for the bounce. Bulletin
Board stocks will be susceptible to prolific price drops on limited
volume as a too few market makers have too much control over prices, and
you can be certain they will fade bids rapidly on even the slightest selling
pressure.
Certain industry groups will trade
very well, and others will get clobbered. Airline stocks and Insurance
companies will certainly be victimized by these events, but Oil
stocks and any stock related to Security or Defense Spending
should do extremely well.
The editors at the OTC Journal
believe any significant market pull back will be a buying opportunity,
and values should return to normal ranges within two weeks.
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The
Immediate Future |
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Our economy is certain to face lower
GDP in the third and fourth quarters as a result of the Attack on
America. The consumer, who's purchases represent 2/3 of the American
economy will spend less temporarily. People will travel less, and consume
less in the short term.
However, at the OTC Journal
we are eternal optimists. We believe events of the past week will serve
as a catapult for a new era of economic prosperity. The infrastructure
rebuilding process will create enormous commercial activity.
Economists are expecting the FED
to rapidly lower interest rates to unprecedented new lows to stimulate
new investment. America is united with a new spirit of unity and
a common purpose- to prove we continue to be the greatest nation in the
world, and no act of terrorism can derail our free society and way of life.
Famous British Statesman Lord
Grey once said of our country:
| The United States
is like a gigantic boiler. Once the fire is lighted under it there is no
limit to the power it can generate. |
Corporate America is unifying unlike
any time in history. Most multi national companies are already announcing
enormous contributions to relief funds. Other companies are donating fleets
of vehicles, office space, and manpower.
Ultimately, this week's horrific
events will act as a fire under the largest boiler in the world and usher
in a new era of prosperity and growth. Americans will defy the intent of
the terrorist attacks and come out better than we were before.
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Special
Announcement- An Opportunity That Could Make You Wealthy |
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In our September
7th edition we alluded to an upcoming new profile which we felt could
end up being the investment opportunity of a lifetime. We expected to release
the new profile this past Friday, but we are temporarily on hold pending
a return to normal market activity.
We may present this opportunity to
you as early as next Friday depending on news releases from the Target
company. 48 hours ahead of the event we will publish a special edition
in which we will share the story of a man who has been plagued his entire
life by a certain disease, and now is completely cured.
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Energy
Power Systems (OTC BB: EYPSF) in the News |
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Prior to this week's closing of the
markets shares of Energy Power had been trading extremely well,
and a news release which came out early Tuesday might help explain the
unusual activity.
Coincidental to the Energy Power
news, Oklahoma based oil behemoth Devon Energy announced the planned
purchase of Canadian company Anderson Exploration, causing a price
spike in Canadian natural resource companies.
Once concluded, this transaction
tips American ownership of Canadian oil and gas producers over the 50%
mark. This provides further evidence of America's drive towards energy
independence spurred on by President Bush's friendly policies towards our
natural resource rich neighbors to the North. Energy Power is perfectly
positioned to benefit from this new trend.
Energy Power announced drilling
had been completed on the deep well being drilled in Ontario by Talisman
Energy. Energy Power is a minority partner in this property.
Since drilling has been completed production is expected to begin shortly,
and associated potential revenue figures will be published by the OTC
Journal as soon as they are publicly available.
Here is the complete text of the
news release for your review:
Tuesday September 11, 10:05 am Eastern
Time
Press Release
SOURCE: Energy Power Systems Limited
Energy Power Systems Limited -
Ontario Horizontal Well Going On Production
TORONTO--(BUSINESS WIRE)--Sept. 11,
2001--Energy Power Systems Limited (OTCBB: EYPSF - news; CDNX: YPX - news;
www.epsx.com; ``Energy Power'' or the ``Company'') announces that the drilling
of a horizontal development oil well operated by Talisman Energy in Essex
County, Ontario has been completed as a producer. The well was drilled
to a True Vertical Depth of 792 metres with a True Measured Depth of 1,973
metres. The well is being equipped and initial production testing will
be conducted for a period of 30 to 60 days to further evaluate the well.
Energy Power has a 8.839% interest before payout and a 7.13% interest after
payout.
The horizontal leg penetrated the
Sherman Falls Carbonate, a formation of Ordovician Age. The Sherman Falls
section is the main producing reservoir in Essex County and accounts for
75% of oil production in Ontario. During 2000, 1.5 million barrels of oil
was produced from the Ordovician in Ontario.
About Energy Power Systems Limited
Energy Power is a diversified energy
source & service company taking advantage of the current upward trends
in this critical sector. Investors, governments and industry are increasingly
looking at oil and gas as an integral part of a financial plan. Some money
managers are focussing on oil & gas service companies that profit from
building and maintaining the huge production infrastructures, rather than
just oil & gas producers whose profits fluctuate with the price of
oil. With growing cash flow from its Oil & Gas Division and ongoing
revenues from its Engineering & Offshore Division, EPS is positioned
to perform throughout the energy cycle. The Company has approximately 6.3
million shares of common stock outstanding.
Certain of the statements contained
in this news release are forward-looking statements. While these statements
reflect the Corporation's current beliefs, they are subject to uncertainties
and risks that could cause actual results to differ materially. These factors
include, but are not limited to, the demand for the Corporation's products
and services, economic and competitive conditions, access to debt or equity
capital on favorable terms, and other risks detailed in the Corporation's
Form 20-F and Annual Report.
The Canadian Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy
of this release.
--------------------------------------------------------------------------------
Contact:
Energy
Power Systems Limited
Sandra
Hall, 866/230-3305
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Next Edition likely to be published
next Wednesday.
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